Abu Dhabi National Oil Company ( ADNOC) custom essay

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• In this project, you will apply the theories studied in class to analyze the microeconomic forces affecting a business in the UAE and the market structure of its industry.
• In groups of 3 students, you will prepare an analysis of the market forces affecting a business, including the demand and supply of its products/services and its competitive position.
• Choose a business in the UAE with the guidance of your teacher. Make sure you will have easy access to the information necessary for this project. It is preferable to work with a small business where you can get the data than with a large business for which you have limited access. A small supermarket at your neighborhood whose owner you know well is better than a multinational where you don’t know anyone.
• Prepare to present your findings and answer questions about the business. Your group will make 2 presentations during the semester and you will be graded both individually as well as in group. You must use PowerPoint in both presentations.
• After the second presentation (oral exam), you must submit a final report. Make sure you make all reflect on what you learned in the oral exams to correct your report.
• The outline and online sources on the following pages will guide you in conducting your research and preparing an effective report. Make sure you refer to these instructions often!

Directions:
• Collect, explain, define and analyze information related to your chosen company and its respective industry through as many interviews as possible. Make sure you have easy access to a person that knows the business very well (your business contact).
• There is a list of online sources at the end of the project outline to help you with your research, but you should not depend only on these resources.
• Your report must have correct vocabulary and grammar and must be well organized using the appropriate headings and sub-headings as shown in the TEMPLATE REPORT. It is very important that you write your report using the template. Failure to do so will reduce your grade.

RESEARCH REPORT OUTLINE (content and instructions)
Part 1 – Supply, Demand and Elasticity (____ words)

1. Main Products & general characteristics of the firm
a. Give brief background information about the business, including, total revenue/sales and the location of its headquarters.
b. Identify two important products / services that this business sells. Describe the products. Research how the prices of these two products/services have changed in the last two years. List these prices and, if possible, the amounts sold.

2. Analysis of the firm’s supply and demand: choose one of the products/services you identified in ‘a’ above. Use demand and supply diagrams to explain the items below. Be sure to label all parts of your diagrams, including, equilibrium prices and quantities.
a. Consumers’ income: In your explanation, identify if the product/service is a normal or an inferior good by indicating how changes in consumers’ income would affect the product’s demand.
b. Prices of competing products/services: In your explanation, identify a competing product/service and indicate how changes in the price of the competitor would affect the product’s demand.
c. Number of consumers: In your explanation, identify what type of consumers (e.g. age, sex, income level) use this product/service and how a change in the demographics would affect the product’s demand curve.
d. Technology: In your explanation, identify how a change in the company’s technology would affect this product/service supply curve.
e. Number of competitors: In your explanation, identify who the competitors are how the entry or exit of companies in this industry would affect this product/service market.
f. Costs of production: In your explanation, identify one of the types of cost of production and indicate how a change in these costs would affect the supply curve.
g. Indicate which other non-price determinants can change either the supply or the demand for this product if applicable.

3. Analysis of the Price Elasticity of Demand for one of the products. Choose one of the products/services you identified in ‘2a’ above.
a. How would you characterize the price elasticity of demand (PED) for this product/service? Refer to the ‘determinants’ of elasticity mentioned on pages 174 and 175 of your textbook.
b. Draw a diagram showing the price elasticity of demand you identified. If you don’t have actual figures, use page 173 charts: which one would best represent the PED for the product you chose?

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